Finance

8 December 2014: KfW Development Bank launched the Geothermal Development Facility (GDF) for Latin America on the margins of the Lima Climate Change Conference. The GDF, the first multi-donor climate initiative to promote geothermal resources on a continental scale, will provide at least US$75 million in grant-based risk mitigation instruments and US$1 billion in financing to geothermal projects in 10 Latin American countries.

5 December 2014: The Climate Disclosure Standards Board (CDSB) Secretariat launched a report that proposes corporate climate change reporting requirements for adoption or support by stock exchanges, with the aim of encouraging the supply and use of information to strengthen market resilience against climate change impacts. ‘Climate resilient stock markets' discusses why stock exchanges should act to address climate change, the current state of activity on climate change reporting and challenges and opportunities for stock exchanges wishing to employ climate change reporting approaches.

5 December 2014: The Overseas Development Institute (ODI) and UN Environment Programme's Finance Initiative (UNEP FI) convened experts from the private and public sector for a side event on 'Climate Finance: What Is It Worth?' Organized on the sidelines of the Lima Climate Change Conference, the event reflected on a decade of finance for climate action in developing countries. Participants discussed the role of public and private sectors in effective finance and regulation, focusing on major achievements and shortcomings.

2 December 2014: UNGA President Sam Kutesa has announced the preliminary organisational arrangements for a series of High-Level Thematic Debates and a High-Level Event to be convened in the first half of 2015, and finalized dates for several of them. According to his note, the events aim to contribute to formulating the post-2015 development agenda and mobilizing means for its implementation. The outcome of each debate and event will be a President's summary.

8 December 2014: The 69th session of the UN General Assembly (UNGA) discussed and adopted a resolution on the ‘Report of the Intergovernmental Committee of Experts on Sustainable Development Financing (ICESDF)' (A/69/L.32). By the resolution, the Assembly reaffirms that the ICESDF report, the Open Working Group (OWG) on the Sustainable Development Goals (SDGs) Outcome Document and the UN Secretary-General's synthesis report are valuable inputs for the preparations for the Third International Conference on Financing for Development (FfD).

6 December 2014: The UN Environment Programme (UNEP) has launched its Adaptation Gap Report 2014 on the sidelines of the Lima Climate Change Conference. The report aims to identify adaptation needs and realities on the ground and focuses on funding, technology and knowledge gaps in developing countries. The report states that, by 2050, the annual cost of adaptation in developing countries will likely reach two to three times the US$70-100 billion previously estimated, even if mitigation goals are met.

8 December 2014: The World Resources Institute (WRI), ICLEI - Local Governments for Sustainability and the C40 Cities Climate Leadership Group have created a standard for cities to measure and report their greenhouse gas (GHG) emissions. The organizations launched the 'Global Protocol for Community-Scale Greenhouse Gas Emission Inventories (GPC)' at a side event at the Lima Climate Change Conference.

7 December 2014: Latin American and Caribbean (LAC) countries and regional programmes, in partnership with regional and global organizations, have launched ‘Initiative 20x20,' a country-led effort to begin restoring 20 million hectares of degraded land by 2020. The initiative, which aims to restore forests and ecosystems, reduce poverty and improve agricultural productivity, was launched on the sidelines of the UN Climate Change Conference in Lima, Peru.

6 December 2014: The Government of Kiribati and the Industrial Technology Research Institute (ITRI) organized the side event 'Engaging the Participation of Green Economy in the Climate Action Incubation Mechanism' at the Lima Climate Change Conference. The event focused on how climate action can bridge financial and technical gaps in climate change strategies of the developing world.

5 December 2014: Panelists examined 'The Ability of Clean Fossil and Non-Fossil Energy to Fulfill Sustainable Development' at an event convened on the margins of the Lima Climate Change Conference by the Government of Saudi Arabia and the Global Carbon Capture and Storage Institute (GCCSI). The event explored the sustainable development and decarbonization contributions of both clean energy sources and technologies for capturing carbon from fossil energy sources.